Wills with Discretion Scotland

It is important that every adult has a will, to give instructions about what should happen to their estate when they die.

Writing your will can be complex if your estate is difficult to quantify, the value of assets fluctuates or if the situation of your beneficiaries is not settled.

However, it would be unwise to decide it is too complex and to take no action. According to unbiased.co.uk, 60% of adults in the UK don’t have a will, this is not a sensible option. If you don’t have a will, then it will be down to the courts to decide how your estate is dealt with.

This can cause delays and additional costs. It also means your estate may not go to the people you intended.

Instead, if your estate is particularly complex, you should consider the more open instructions provided by discretionary wills.

Our specialists will be able to advise you if this is the best option for you and will write up a will that reflects your wishes.

What is a discretionary trust will?

A discretionary trust will is slightly different from a standard will, which tends to give very clear, specific instructions about what is to happen with the estate and who is to benefit.

A discretionary trust will allow part or all of the estate to be held in trust for the benefit of specified beneficiaries. The trustees have discretion over how the assets in the trust are distributed.

This allows the trustees to be more flexible when distributing the estate.

Our specialists will be able to discuss all the benefits and implications of this option.